Carmanah Technologies to list on TSX Feb. 2
For Immediate Release:
TUESDAY, January 31, 2006
(No.2006-01-03)
CARMANAH COMMENCES TRADING ON THE
TORONTO STOCK EXCHANGE
Victoria, British Columbia, Canada - Tuesday, January 31, 2006 -
Carmanah Technologies Corporation ("Carmanah") (TSX VE: CMH) -
Canada's largest solar company - is pleased to announce that it has
officially joined the Toronto Stock Exchange ("TSX"). Carmanah's
common shares will begin trading on the TSX effective Thursday,
February 2, 2006 at 9:30 am ET under the symbol "CMH".
Carmanah CEO Art Aylesworth and Chairman/founder Dr. David Green will
mark the occasion at an official listing ceremony at the TSX
Broadcast Centre in Toronto. Mr. Aylesworth will sound the siren to
signal the opening of the market and Carmanah's graduation from the
TSX Venture Exchange.
"This will be a proud day for Carmanah," states Aylesworth. "We will
celebrate how far our company has come, and look forward with great
anticipation to the next steps in its evolution. The Venture
Exchange has provided an excellent platform for our initial listing
and we are very pleased with the progress we've made over the past
four years. It is our ambition to increase our profile and exposure
within the financial community, both in Canada and beyond and the
time feels right for the move to the senior exchange. We look
forward to this next phase of Carmanah's development and the expanded
opportunities provided by the Toronto Stock Exchange."
Carmanah shares began trading on the Venture Exchange under the
symbol "CMH" in 2001. Trading on the TSX will remain under the same
symbol.
Carmanah's growth has been bolstered recently by a number of
significant accomplishments, including:
-The acquisition of Soltek Powersource, the largest Canadian supplier
of solar systems and solar-related equipment;
-A $1,000,000 contract to build Canada's largest solar power system
at Toronto's Exhibition Place. The system is expected to reduce the
facility's carbon dioxide emissions by 94.7 tonnes per year;
-Contracts to light the 2010 Olympic and Paralympic Winter Games.
Carmanah's 24-hour solar flashing beacons are already part of the
preliminary phase of the Sea-to-Sky Highway Improvement Project.
Carmanah's internally illuminated street-name signs will be used to
increase safety and visibility at the Richmond Oval;
-The Toronto installation of 350 solar-powered bus shelters - the
first in Canada;
-Numerous awards, including two 2005 Canada Export Awards from
International Trade Canada and the Global 100 Eco-Tech Award from the
2005 World Exposition in Japan;
-The successful completion of $15,000,000 in a private placement
financing of common shares in December of 2005;
-Record financial results for Q3 2005, highlighted by a 164% increase
in revenues over Q3 2004 and a 93% increase in year-to-date revenues
compared to the same period in 2004.
About Carmanah Technologies Corporation:
Carmanah is an award-winning manufacturer of energy-efficient
technologies. The company is currently focused on three technology
groups: solar power systems and equipment, solar-powered LED
lighting, and LED illuminated signage. Headquartered in Victoria,
British Columbia, Carmanah has branch offices and/or sales
representation in 11 cities across Canada, the United States, and the
United Kingdom. With more than 250,000 installations worldwide,
Carmanah is one of the world's premier suppliers of energy-efficient
products.
The shares of Carmanah Technologies Corporation are publicly traded
on the TSX Venture Exchange under the symbol "CMH" and on the Berlin
and Frankfurt Stock Exchanges under the symbol "QCX". For more
information, please visit www.carmanah.com.
On Behalf of the Board of Directors
Carmanah Technologies Corporation
"Praveen Varshney"
Praveen Varshney, Director |
